Finding the right workspace for any stage of your company
Every business and startup is confronted with finding the optimal work atmosphere that facilitates growth and productivity. Colleen Dempsey, Managing Director of GTMstrat, connects phases of growth to the types of workspaces that maximize efficiency and positively influence company culture. Because her role at GTMstrat is helping startups get to their next growth stage and success metrics, she has seen first hand how different companies have changed their workspaces as time goes by. Dempsey identifies these four stages:
1. I Have an Idea: Libraries and Coffee Shops
“…provide the meeting collaboration, ideation, research and “work place to go” mindset to build and plan with zero cost.”
During the concept stage, libraries and coffee shops are comfortable and familiar while, of course, observing financial limits. Other possible areas include parks, college campuses or low-key bars and pubs. In the beginning stages of business development, scheduling meetings in public places can provide a low-pressure work atmosphere while still encouraging active participation and the flow of ideas.
2. We Really Have a Business: Fractional Coworking
“Once committed, “fractional coworking,” like Croissant, gives the “wow, we really have a business now” feel of just enough professional office environment balanced with the energy and creativity of other startups and freelancers.”
At this juncture, revenue comes into focus and for many startups and small businesses, fractional coworking is the perfect cost-effective solution. The coworking eco-system is known by professionals to be a productive, business-oriented atmosphere. These locations give the sense of an entrepreneurial community, while providing all the amenities of an office, and more-- quiet worktables, consistent Wi-Fi, power outlets, conference room access, kitchen, soundproof phone booths and clean bathrooms.
3. Wow, Our Business is Actually Taking Off: Full-Time Coworking
“As business takes off… full-time coworking gives us an address and office space that grows with us.”
As workload and expectations increase, full-time coworking offers employees the structure and stability necessary to encourage work flow. This is how coworking grows right along side your business. The convenience of centrally located spaces and conference rooms make it easy to schedule meetings with clients and collaborators. With the variety and abundance of spaces available, businesses have the opportunity to try out different atmospheres and cultivate their own unique company culture.
4. Do the Math, People: Committing to an Office Space
“Once the economics and company identity are assured, the math will show when the number of employees, market position and funding or profitability mean it’s time for one’s own space… if ever.”
Many factors can contribute to the decision to commit to a personal office space. Exploring options and deciding on a location can require a lot of time and effort. Fortunately, the flexibility of coworking lessens the pressure of this transition and relieves the need to find an office that “has it all”. Dempsey herself uses Croissant. “Because my partner, Stephen Flink, is based in Long Island and I'm in Westchester, Croissant give us a place to meet, ‘have a home’ and collaborate before and after on-site client meetings,” she explains.
At the end of the day, it’s important to choose a workspace that is comfortable and works with your current company stage.